The Toronto stock market was lower at the open as traders fretted over a delay in getting Greece's bailout program back on track and the approaching "fiscal cliff" in the United States.
The S&P/TSX composite opened Tuesday down 5.34 points at 12,191.46.
The Canadian dollar skidded 0.24 cents to 99.77 cents U.S.
Media and telecom company Quebecor Inc. was in focus after it announced a restructuring program that will see its Sun Media arm cut 500 jobs and close two production facilities. Quebecor shares poked up three cents to $35.28
Sears Canada Inc reported a smaller quarterly loss on Tuesday even as its sales slid. Sears shares began the day off 40 cents, or 3.2%, to $12.07
No major Canadian economic data was scheduled for release Tuesday.
ON BAYSTREET
The TSX Venture Exchange dipped 4.24 points to 1,301.22
Nine of the 14 Toronto subgroups were lower at the outset. Metals and mining fell 1.1%, while global base metals slipped 0.8% and gold doffed 0.7%.
The five gainers were led by health-care, 1.1% healthier, while consumer staples and industrials charged ahead 0.3% each.
ON WALLSTREET
U.S. stocks opened mixed Tuesday as investors continue to fret over whether lawmakers will cut a deal to avoid the fiscal cliff.
The Dow Jones Industrials grew 29.11 points to open Tuesday at 12,844.20
The S&P 500 nipped up 2.31 points to 1,382.34, and the Nasdaq Composite Index shrank 9.18 points to 2,895.07
Lawmakers are trying to strike a deal that prevents the onset of sharp spending cuts and tax increases in January. President Obama plans to meet with union leaders on Tuesday, a number of business leaders on Wednesday and then Congressional leaders on Friday.
Windows chief Steven Sinofsky, heir apparent to Microsoft CEO Steve Ballmer, left the company late Monday. Sinofsky had been at Microsoft since 1989, trusted with overseeing many of the company's core products -- including Office and the recent Windows 8 debut.
Shares of Dow component Home Depot rose after the company beat sales and earnings forecasts. The nation's largest homebuilding supply retailer raised its guidance for the current quarter, and said it's seeing a beginning in the "healing of the housing market."
Dick's Sporting Goods beat analyst expectations on both income and revenue and raised its guidance for fourth quarter sales.
Michael Kors Holdings reported quarterly earnings and revenue that beat expectations.
Meanwhile, Saks reported earnings in line with forecasts but fell short on revenue. The retailer lowered its sales guidance for the fourth quarter, citing disruptions from Hurricane Sandy.
Shares of TJX rose after the parent of T.J. Maxx and Marshalls said sales and earnings rose in the third quarter.
Economically speaking, at 2 p.m. ET, the Treasury Budget is expected to show a deficit of $113 billion U.S. for October, according to a survey of analysts
The price on the benchmark 10-year U.S. Treasury gained ground early Tuesday, lowering yields to 1.59% from Friday’s 1.61%. Treasury prices and yields move in opposite directions. Treasury markets were closed Monday for Veterans’ Day
Oil prices surrendered 57 cents to $85.00 U.S. a barrel.
Gold prices dropped $8.60 an ounce to $1,722.30 U.S.
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